© Dukascopy Bank SA
- Barclays Plc in Singapore (based on the Bloomberg)
Pair's Outlook
The pair has not fluctuated much after yesterday's 100 pip drop, right now it is trading below the weekly S3 at 0.9243. The next support level will be the major level at 0.92, this level has not been breached for couple of months. In case the previously mentioned level gets broken then most likely the Aussie will reach the monthly S1 and 200-day SMA at 0.9171/63. The shorter term technincals are largely bullish; therefore, it is possible that the major level at 0.92 will stop pair's retreat.
Traders' Sentiment
The difference between the amounts of long and short positions open on AUD/USD has narrowed since the previous report and at the time is almost identical—49% and 51% respectively.
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